Home Ethereum Price Analysis: ETH/USD bears take back control as price falls below the green Ichimoku cloud
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Ethereum Price Analysis: ETH/USD bears take back control as price falls below the green Ichimoku cloud

FX Street
Updated:
  • ETH/USD had a bullish Friday where it went up from $109.50 to $135.55.
  • The Elliott Oscillator has dropped from -7.87 to -76.88 over the last eight days.

ETH/USD daily chart

ETH/USD daily chart

ETH/USD bears took control of the market and dropped the price from $135.55 to $133.20 in the early hours of Saturday. The bulls fought back vigorously and took control of the market this Friday as the price jumped from $109.50 to $135.55 and entered the green Ichimoku cloud. Currently, the price has dropped below the Ichimoku cloud. 

The Elliott Oscillator has dropped from -7.87 to -76.88 over the last eight days, while the MACD shows increasing bearish momentum. The RSI indicator is trending at the edge of the oversold territory.
 

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